What are the benefits if any, of leasing a vehicle?

Answer 1

If you find you do not like the vehicle, you are under no obligation to buy it.

If you do like it, you have to option to buy it at the end of the lease or extend the lease.

If not, you can lease another vehicle if you like or just return it to the dealer.

Answer 2

Before you get all the answers telling you what a ripoff leasing is, here is the short short version.

If you do your homework on a lease, here are the benefits. If you keep the car for the lease term, there will be no negative equity at the end. You can drive a new car every 2 or 3 years with no major headaches. You can drive the same car leasing for sometimes $100-300 dollars a month less.

You have to make sure that a lease is right for you. If you maintain your cars, do not put excessive mileage on it (even then you can configure your lease for even 30k miles a year) and do not try to keep trading out too early, you can save thousands leasing.. if you are foolish like many people who will be answering you shortly, you will end up leasing a car because you cannot really afford it, but figured out that if you lease it, then you CAN drive an Escalade with a 5k mile a year lease, even though you drive 5k a month. People often get the wrong kind of lease, then ***** about the ripoff dealer who put them in it... some people should not lease at all...

Anyway, do your homework, and make sure you can fit the conditions, and do not lease more car than you need.. the idea is not supposed to be, lets get ALL the car I can for my payment, it should be, what is the least I can pay for the car I need.. and that takes into account all the expenses of a lease or purchase at time of turn in or trade in.

Answer 3

The only benefits are getting rid of it in 2 or 3 yrs. whatever you lease it for and always having a vehicle under warranty, the downside is you are paying money for something you will never own and any damage or excess wear you will have to fix before it is turned in and you are limited on mileage unless you buy extra miles and you will pay more insurance as you are required to carry $300,000 accident insurance. Been there and done that, also if you decide you want to buy the vehicle at the end of the lease you will pay a lot more for it than one sitting on the lot that has been traded in and the same year.

Answer 4

You get a clean vehicle each few years. usually a decrease down and month-to-month value. you're purely taxed on the component of the fee which you employ for the duration of your hire. you have no longer have been given the undertaking of advertising it after the hire ends. Many leases contain hollow risk-free practices. Leasing works for some human beings, no longer all. the human beings say "under no circumstances hire a vehicle" usually understand no longer something approximately leasing.

Answer 5

there is a benefit , if you are looking to keep driving a new car every 2 or 3 years . buy a car and drive it that amount of time , you lose money trading it in if you only make your minimum monthly payment , lease it , and at the end you walk away with a new car and not negative on your equity

Answer 6

There's a benefit? When I hear the word 'lease', I automatically think, "car payments for eternity."

Answer 7

if you're the car dealership there are alot of benefits. if you're the consumer basically none. you can get a new car without a down payment if you have good enough credit. on a lease you make a huge balloon payment at the end if you've decided you want to keep the vehicle otherwise you've just made a monthly payment on NOTHING.

Answer 8

For people who cannot afford the down on a new car, it is an idea but in the end you pay for something and end up with nothing.

It is a good idea for someone who exclusively uses it for work as it is tax deductible then.

Better to save and buy a car you can afford!

Answer 9

I am leasing a car now, and I really enjoy it.

Answer 10

Ask your personal accountant (CPA) to explain it to you. If you do not have a personal CPA, then it is most likely not a good idea for you. You need to go through all the numbers very very carefully.